Now May Be the Right Time to Consider Appointing a Medical Power of Attorney

 Posted on March 28, 2020 in Estate Planning

Coronavirus concerns has many people putting estate plans at a much higher priority than normally. Although the chances of becoming seriously ill or dying from the virus are low for most Americans, it may still be a good idea to start implementing an estate plan. One important aspect of a comprehensive estate plan is a medical power of attorney or power of attorney for healthcare. By appointing a medical power of attorney for healthcare, you ensure that your medical decisions will be made by someone you trust if you cannot make these decisions on your own.  

Power of Attorney for Healthcare Basics

Many people assume that estate planning is only necessary if they are sick or elderly, however, it is best to create an estate plan while you are healthy and able to make clear decisions. An unexpected accident or illness can happen to anyone at any time. If you were seriously hurt or sick and could not tell doctors what your medical wishes were, you would probably want a trusted loved one who knows your preferences to make these decisions on your behalf. A healthcare power of attorney allows you to choose an agent who will be responsible for making your healthcare decisions if you cannot do so yourself. The term “power of attorney for healthcare” is often used to refer to the legal document as well as the person acting as your agent.

Who Should Be My Agent?

Being someone’s healthcare power of attorney is a serious responsibility. It is important to choose an agent who is capable of adequately handling this responsibility. Your agent should also be someone you trust implicitly and are comfortable sharing personal information with. Many people choose a spouse, family member, or close friend to be their agent. If you choose an agent and then circumstances change and you no longer want this person to be your agent, you have the ability to choose a new agent by drafting a new healthcare power of attorney document. You may want your healthcare power of attorney to also be your financial power of attorney or you may want to assign these roles to two different individuals.

Contact a Lombard Estate Planning Lawyer

No one wants to imagine a situation in which they are unable to speak for themselves. However, it is important to plan for this possibility. If you want to learn more about choosing a power of attorney or you have other estate planning needs, contact A. Traub & Associates. Schedule a confidential consultation with a Wheaton estate planning attorney by calling us at 630-426-0196 today.

Sources:

https://www.webmd.com/palliative-care/advance-directives-medical-power-attorney#2

https://www.investopedia.com/terms/h/hcpa.asp